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Reflections on the role of cryptocurrencies in Kazakhstan

Astana Hub is a space of ideas and technologies. Here we are talking about the future: from AI to blockchain. But behind the shining showcase of the cryptocurrency revolution, the question increasingly arises: how sustainable and useful is this "future" for the real economy and society?

Cryptocurrencies came as a symbol of decentralization, financial freedom, and technological progress. But there is another truth behind the loud statements: speculation, instability and lack of real benefit for the majority of citizens.

Ordinary Kazakhstanis — doctors, teachers, farmers — do not get any easier from the appearance of another token or blockchain platform. The crypto market does not solve social problems yet — it creates a new class of "digital players" where few win.

Investors and users are often presented with the idea that they can "come in early" and become a millionaire. However, the reality of the crypto market is closer to gambling. Exchanges and large token holders (the so-called "whales") monitor trends. And newcomers are more likely to lose money than gain financial freedom.

This undermines trust not only in the tools, but also in the digital economy as a whole.

The operation of large cryptoplatforms requires significant energy resources. Given the global commitment to sustainability, it's worth asking the question: can we afford to devote gigawatts of energy to maintaining digital assets whose benefits to society are not yet obvious?

Our energy sector should serve the development of the real sector: education, medicine, science, and infrastructure. Instead of powering mining farms.

The crypto industry in Kazakhstan is receiving institutional attention. This gives the country the opportunity to become a regional hub for new technologies. But such openness requires responsibility. Support should not turn into encouragement of speculation.

It is important to build a regulatory and ethical framework in which cryptocurrencies will become a tool for development, and not just a source of risks.

We need digital solutions that solve the following tasks: logistics, medicine, education, automation of public services. These technologies have clear benefits and serve society.

Cryptocurrencies can be a part of this picture. But only if they are embedded in long-term strategies that create jobs, value, and transparency.

The future needs to be built on a foundation, not on ephemeral tokens. Let Kazakhstan become a country of smart solutions, not digital illusions.

Technology itself is neutral. Their ethics are shaped by how and why they are used.

If Kazakhstan supports blockchain initiatives, let them be projects built on secure, energy-efficient languages like Rust, open source, and serving government and public needs. For example:

  • A blockchain—based government spending control system - budget transparency.
  • Register of land and real estate — protection of property rights.
  • Voting on the blockchain is an increase in confidence in elections.
  • Smart contracts for the agricultural sector — automation of subsidies and procurement.
  • Local crypto assets tied to goods/services, not speculation.

This approach will not give us a digital roulette, but a reliable digital foundation. Not a search for meaningless hashes, but calculations leading to development and fairness.

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государство и без блокчейна может быть прозрачным, честным и эффективным. главное чтобы было желание и цели. а если цели и желания другие, то и блокчейн не сработает

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